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2018 (4) TMI 881 - AT - Income TaxNot allowing loss on account of writing off of stores lying in bonded ware house since 1997 and surrendered the title of such goods by this appellant - Held that:- We are of the view that write off of stores & spares imported earlier but lying in the godown of a port authority is a loss incidental to the business. We allow the loss accordingly. This issue of assessee’s appeal is allowed. Entitled to deduction of write off - Held that:- In respect to trade debtors, CIT(A) has deleted the disallowance only on the premise that write-off of bad debts in the books of account is sufficient for claiming deduction under the amended provisions of Section 36(1)(vii) of the Act and assessee is not further required to prove that the debt has become bad. For this, the assessee before lower authorities and before us relied on the decision of Hon'ble Supreme Court in the case of T.R.F. Ltd. Vs. CIT – (2010 (2) TMI 211 - SUPREME COURT). We find that this issue is squarely covered in favour of the assessee and hence, this issue of Revenue’s appeal is dismissed. Sales tax incentive availed under the package scheme of incentive of Government of Maharashtra to be allowed
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